WHEELER REAL ESTATE INVT TR INC 9% CUM CONV PFD SER B | 10-Q: FY2025 Q3 Revenue: USD 23.82 M

Revenue: As of FY2025 Q3, the actual value is USD 23.82 M.

EPS: As of FY2025 Q3, the actual value is USD -0.83.

EBIT: As of FY2025 Q3, the actual value is USD 13.06 M.

Rental Revenues: $23.7 million for the three months ended September 30, 2025, compared to $24.3 million for the same period in 2024. For the nine months ended September 30, 2025, rental revenues were $73.5 million compared to $75.9 million in 2024.
Other Revenues: $115 thousand for the three months ended September 30, 2025, compared to $456 thousand for the same period in 2024. For the nine months ended September 30, 2025, other revenues were $733 thousand compared to $1.1 million in 2024.

Net Income: $12.98 million for the three months ended September 30, 2025, compared to a net loss of $30.6 million for the same period in 2024. For the nine months ended September 30, 2025, net income was $14.4 million compared to a net loss of $39.0 million in 2024.
Operating Income: $5.5 million for the three months ended September 30, 2025, compared to $13.9 million for the same period in 2024. For the nine months ended September 30, 2025, operating income was $32.6 million compared to $32.9 million in 2024.
Operating Costs: $18.3 million for the three months ended September 30, 2025, compared to $18.0 million for the same period in 2024. For the nine months ended September 30, 2025, operating costs were $52.6 million compared to $54.1 million in 2024.

Operating Cash Flow: $18.8 million for the nine months ended September 30, 2025, compared to $20.6 million for the same period in 2024.

Impairment Charges: $2.5 million for the three and nine months ended September 30, 2025, compared to $1.2 million for the same periods in 2024.
Gain on Disposal of Properties: - $3 thousand for the three months ended September 30, 2025, compared to $7.1 million for the same period in 2024. For the nine months ended September 30, 2025, the gain was $10.9 million compared to $10.0 million in 2024.
Net Changes in Fair Value of Derivative Liabilities: $15.0 million gain for the three months ended September 30, 2025, compared to a loss of $39.3 million for the same period in 2024. For the nine months ended September 30, 2025, the gain was $6.3 million compared to a loss of $49.8 million in 2024.

Dispositions: The company completed several property sales in 2025, including Winslow Plaza, Devine Street, Amscot Building, Oregon Avenue, South Lake, and Webster Commons, with total net proceeds of approximately $33.4 million.
Assets Held for Sale: As of September 30, 2025, Carll’s Corner, Fieldstone Marketplace, and an undeveloped South Philadelphia land parcel were classified as assets held for sale.
Credit Facility: On August 15, 2025, Cedar entered into a credit facility agreement with KeyBank National Association to draw up to $20.0 million, with interest payments due monthly and principal due at maturity on August 15, 2027.

Series D Preferred Stock Redemptions: During the nine months ended September 30, 2025, the company processed redemptions for an aggregate of 316,133 shares of Series D Preferred Stock, issuing 194,568 shares of Common Stock in settlement of an aggregate redemption price of approximately $12.8 million.
Convertible Notes: During the nine months ended September 30, 2025, the company issued an aggregate of 107,295 shares of its Common Stock upon the conversion of Convertible Notes by certain holders, resulting in an aggregate net loss on conversion of $0.9 million.
Noncontrolling Interests: Cedar repurchased and retired 1,921,228 shares of Cedar Series C Preferred Stock and 592,372 shares of Cedar Series B Preferred Stock through a series of repurchase transactions, including tender offers, for an aggregate of $41.9 million.

Repurchase of Noncontrolling Interests: The company intends to continue repurchasing its Cedar Series B Preferred Stock and Cedar Series C Preferred Stock as both series are currently trading at a discount to their liquidation value, presenting a strategic opportunity to buy back shares at favorable prices.